The United States Agency for International Development (USAID), TradeMark Africa (TMA), and the East African Business Council (EABC) have jointly launched a $508,000 grant fund to support small enterprises and promote trade within the African Continental Free Trade Area (AfCFTA). The initiative aims to increase capital and credit potential for 220 small enterprises and foster collaboration among policymakers and the private sector.
The three-year partnership, funded by USAID-ERRA, will focus on reducing trade constraints, especially for high-potential agricultural exports. EABC will work to resolve non-tariff barriers, facilitate trade deals, and increase awareness of market opportunities under the AfCFTA. A study by TMA and the EAC secretariat estimates the total EAC trade potential within the AfCFTA zone to be $1.9 billion, with Kenya holding the largest share and Tanzania coming in second.
Source: IPP Media
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